Independence Holding (NYSE:IHC) announced a semiannual dividend on Thursday, December 21st, Wall Street Journal reports. Stockholders of record on Tuesday, January 2nd will be given a dividend of 0.10 per share by the financial services provider on Tuesday, January 16th. This represents a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, December 29th. This is a positive change from Independence’s previous semiannual dividend of $0.06.
Independence has raised its dividend by an average of 19.7% per year over the last three years and has raised its dividend annually for the last 6 consecutive years.
Shares of Independence (NYSE:IHC) opened at $27.15 on Friday. The stock has a market capitalization of $406.48, a price-to-earnings ratio of 13.71 and a beta of 0.34. Independence has a 1-year low of $16.55 and a 1-year high of $30.00.
A hedge fund recently raised its stake in Independence stock. State Street Corp increased its position in shares of Independence Holding (NYSE:IHC) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,403 shares of the financial services provider’s stock after acquiring an additional 4,561 shares during the period. State Street Corp owned about 0.82% of Independence worth $2,523,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 17.55% of the company’s stock.
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Independence Holding Company (IHC) is a holding company principally engaged in the life and health insurance business. The Company’s segments include Medical Stop-Loss; Fully Insured Health; Group disability, life and DBL; Individual life, annuities and other, and Corporate. The Company is a writer across the nation of excess or stop-loss insurance for self-insured employer groups that desire to manage the risk of large medical claims (Medical Stop-Loss).
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